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In July 2024, the NTUC Enterprise co-operative gave an irrevocable undertaking to sell a majority 51% stake of Income Insurance Ltd to German insurer Allianz. [13]NTUC Enterprise Chairman Lim Boon Heng stated that "is a capital-intensive business and to grow, there is a need to tap the capital markets" and that the sale was necessary because the "strength of Allianz’s financial position will ...
The National Trades Union Congress (NTUC), also known as the Singapore National Trades Union Congress (SNTUC) internationally, is the sole national trade union centre in Singapore. NTUC leads the labour movement of Singapore , comprising 59 affiliated trade unions, 5 affiliated trade associations, 6 social enterprises, 6 related organisations ...
When Income changed its status, the government allowed it to move a surplus worth 2 billion Singapore dollars ($1.48 billion) to the new corporate entity, rather than be donated to the country's ...
Underwriting profit is a term used in the insurance industry. It consists of the earned premium remaining after losses have been paid and administrative expenses have been deducted.
He was appointed, as the Group Chief Executive at NTUC Enterprise on 1 October 2013. [1] Previously Tan was Chief Executive of NTUC Income Insurance Co-operative Limited in Singapore from February 2007 to September 2013. He has served as a member of the organization's Board of Directors since 2003. [2]
By Naomi Rovnick, Amanda Cooper and Dhara Ranasinghe. LONDON (Reuters) - U.S. President Donald Trump's return to the White House has been met with both relief and disappointment across world ...